Brightpoint Up 26.8% After Hitting 52-Week High (CELL)

Shares of Indianapolis, Indiana-based Brightpoint, Inc. CELL are trading up 26.8% at $12.07 per share during the Thursday morning trading session. The day's trading range for shares of Brightpoint, Inc has been between $10.39 and a 52-week high of $12.46 per share. Analysts covering the company's stock give it a consensus price target of $9.94 per share. Volume of 1.1 million shares is already more than double the daily average volume of 500,000 shares. Brightpoint, Inc. (CELL) announced on Wednesday after the market closed that it beat consensus Wall Street expectations. Brightpoint, Inc announced 4th quarter adjusted income from continuing operations of 34 cents per share, on revenue of $1.12 billion. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 27 cents per share, on revenue of $1.01 billion. Chairman and Chief Executive Officer Robert J. Laikin said, "I am very pleased with our fourth quarter and full year 2010 operating results, which reflect our continued focus on execution and discipline in managing our business." Brightpoint, Inc is a global leader in providing end-to-end supply chain solutions to leading stakeholders in the wireless industry. Read more from Benzinga's Company news.